Srinagar, Apr 06: To review the performance of Banks and line departments for the first three quarters of Financial Year 2025-26 ended December 31st, 2025, the 18th meeting of the Union Territory Level Bankers’ Committee was today held at Jammu.
Presided over by Chief Secretary J&K Atul Dulloo, the meeting was also attended by Additional Chief Secretary Ashish Chandra Verma, MD & CEO J&K Bank Amitava Chatterjee (Convenor J&K UTLBC) , Regional Director Reserve Bank of India Chandra Shekhar Azad, General Manager NABARD Vikas Mittal, Executive Director J&K Bank Sudhir Gupta besides secretaries and additional secretaries to the government , Heads of the departments, senior officials from the UT government, RBI, NABARD, Insurance Companies, Lead District Managers and representatives from Banks, NHB and other financial departments. The meeting was organized by Convenor J&K (UTLBC) J&K Bank.
Terming Priority Sector lending key to economic and infrastructural development, Chief Secretary Atal Dulloo emphasized that it is imperative for banks to achieve targets set under this crucial sector.
“For any region or country to achieve economic progress and create job avenues, there should be no shortfall in Priority Sector Lending. I see lot of banks, especially private banks not keen or putting efforts to provide loans under PSL particularly under agriculture sector,” he said while lauding J&K Bank for its performance in Priority Sector lending.
He pressed for 100% credit linkage under Housing and education sector which he said have not grown upto the expectations.
While expressing dismay over the performance of banks in Interest Subsidy Scheme under Pradhan Mantri Awaas Yojana 2.0. Chief Secretary called for utilizing services of Common Service Centers for bringing more beneficiaries under PMAY.
Stressing upon the setting up of Banking touchpoints in Gram Panchayats as a vital component in financial inclusion, Chief Secretary took a strong exception to some banks for having pendency in providing banking services in the unbanked areas.
“This exercise is of paramount importance in government’s efforts to bolster financial inclusion. I expect more from Banks on this front. Banks may need to coordinate with the local administration to set-up banking facilities in the unbanked rural areas,” he said.
While highlighting J&K Bank’s good performance in providing credit facilities to Farmer Producer Organizations (FPOs), Chief Secretary asserted need for Banks and relevant departments to work in tandem for FPOs credit linkage.
“We need to run awareness campaign to strengthen the FPO ecosystem as same is vital to enhance overall infrastructure of our farmer community which in turn will lead to efficient produce,” he said.
Pointing out deficiencies in Re-KYC process, Chief Secretary stated that Re-KYC campaign needs a strong push as government intends to put in place a foolproof compliance ecosystem in the banks.
Chief Secretary advised the banks to improve their lending under employment generation government sponsored schemes while emphasizing the need for issuance of smart cards to KCC holders.
“Banks must understand one thing. Government sponsored schemes have been devised with an aim to generate employment opportunities for our youth and this is where if Banks show some willingness can change economic landscape of this region. All banks and sponsoring agencies need to work in tandem and handhold aspiring entrepreneurs to translate their entrepreneurial aspirations into employment and revenue generating units,” he said.
While urging other banks to take a cue from J&K Bank’s performance in credit dispensation under government sponsored schemes like Self Help Groups, Joint Liability Groups, PM Surya-Ghar, PM Vishwakarma etc., he hoped J&K Bank continues to keep momentum going in its lending under government sponsored schemes.
“Low CD ratios need to be properly examined and a committee comprising subject experts needs to be constituted to suggest action points to improve the CD ratio in the UT. Numbers reflected today vis-à-vis CD ratio in the some of the districts is deeply worrisome and needs a rear-guard to bring a positive change,” he said.
Earlier, in his welcome address, Convenor UTLBC and MD & CEO J&K Bank, Amitava Chatterjee, expressed optimism over the banking sector’s role in meeting the developmental aspirations of the Union Territory.
“The banking sector plays a pivotal role in driving economic transformation, and we remain steadfast in our mission to strengthen financial empowerment, promote entrepreneurship, and enhance access to credit across all segments of society,” he said, assuring full cooperation from J&K Bank and other member banks in implementing employment and enterprise-focused initiatives.
On the occasion, Chief General Manager (J&K UTLBC), Ashutosh Sareen presented the progress report of banks for the review period, highlighting key performance indicators, including total credit disbursed, number of beneficiaries covered, and percentage achievement of the Annual Credit Plan (ACP) in financial and physical terms. Performance under key schemes like MISSION YUVA, PMEGP, PMFME, HADP, KCC, SHG-Bank Linkage, Financial Inclusion and Social Security Schemes was also reviewed during the meeting.
The house was informed that banks in J&K have disbursed a credit of Rs 63,892 Crore to 14.56 lac beneficiaries during first three quarters of FY 2025-26 ended December 2025.
The event concluded with a formal vote of thanks by Chief General Manager, J&K UTLBC.
